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CSC 2Q Net Off 15% As Revenue, Margins Weaken; View Mixed

DOW JONES NEWSWIRES CSC's (CSC) second-quarter earnings fell 15% as the information-technology company reported weaker revenue and margins along with sharply higher taxes. It raised its profit target for the year by 5 cents to $5.35 to $5.45 a share but lowered its revenue view to $16.5 billion to $17 billion from $16.8 billion to $17.2 billion. The information-technology services company, which provides services from consumer-credit information to online-data security, has benefited from increased IT outsourcing. For the quarter ended Oct. 1, CSC reported a profit of $184 million, or $1.18 a share, down from $216 million, or $1.40 a share, a year earlier. Revenue decreased 1.6% to $3.98 billion. Analysts polled by Thomson Reuters most recently forecast earnings of $1.17 on revenue of $4 billion. Gross margin fell to 20% from 20.4%. CSC's managed-services segment, which is its largest by revenue and which mainly covers government contracts, saw revenue edge up 0.1%. Its North American public-sector business reported revenue declined 4.5%. Shares closed Tuesday at $48.79 and were down 1.4% premarket to $48.10. -By Tess Stynes, Dow Jones Newswires; 212-416-2481;;

Stock News for Computer Sciences (CSC)
11/25/201508:36:01Current Report Filing (8-k)
11/24/201517:40:00CSC Confirms Agreement to Acquire Australia’s UXC Limited
11/23/201519:26:00CSRA to Join the S&P 500; Computer Sciences to Join S&P MidCap...
11/20/201516:47:58Amended Statement of Beneficial Ownership (sc 13d/a)
11/19/201509:08:00CSC and MIAX Technologies Target Faster, Cheaper Apps Testing...
11/19/201509:05:00CSC and MIAX Technologies Target Faster, Cheaper Apps Testing...
11/19/201509:00:00CSC and MIAX Technologies Target Faster, Cheaper Apps Testing...
11/17/201514:19:41Statement of Changes in Beneficial Ownership (4)
11/13/201506:01:36Current Report Filing (8-k)
11/12/201517:08:34Current Report Filing (8-k)
11/12/201511:24:00Computer Sciences Corporation Statement Regarding Possible Offer...
11/10/201517:28:30Quarterly Report (10-q)
11/10/201510:30:00CSC Platform as a Service Cloud Offering Achieves FedRAMP Certification
11/05/201514:47:28Current Report Filing (8-k)
11/04/201516:36:26Current Report Filing (8-k)
11/04/201516:17:00CSC Board Approves Proceeding with Spin-Off of U.S. Public Sector...
11/04/201516:15:00CSC Delivers Earnings Growth, Margin Expansion and Improved Cash...
10/27/201516:44:00CSC to Report Second Quarter 2016 Results on Wednesday, November...
10/22/201510:29:00QTS Wins Contract to Provide Data Center Services for CSC Clients...
10/22/201503:00:00Fixnetix Introduces iX-eCute Zero Latency - Next Generation Risk...

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